Sumitomo Life Insurance Co. purchased a new stake in Cypress Semiconductor Co. (NASDAQ:CY) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 17,021 shares of the semiconductor company’s stock, valued at approximately $247,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Wealth Management LLC acquired a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $290,000. grace capital purchased a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $156,000. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $159,000. Raymond James Trust N.A. purchased a new position in shares of Cypress Semiconductor in the 3rd quarter valued at $151,000. Finally, Hartford Investment Management Co. purchased a new position in shares of Cypress Semiconductor in the 2nd quarter valued at $170,000. Institutional investors own 82.28% of the company’s stock.

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In related news, EVP Sudhir Gopalswamy sold 3,000 shares of Cypress Semiconductor stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $16.04, for a total transaction of $48,120.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 11,017 shares of company stock worth $170,176 in the last ninety days. 0.43% of the stock is currently owned by insiders.

CY has been the topic of a number of research reports. TheStreet raised shares of Cypress Semiconductor from a “c+” rating to a “b” rating in a research note on Friday, July 27th. BidaskClub raised shares of Cypress Semiconductor from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Needham & Company LLC reissued a “buy” rating and issued a $23.00 target price on shares of Cypress Semiconductor in a research note on Friday, July 27th. Craig Hallum raised their target price on shares of Cypress Semiconductor from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, July 27th. Finally, MKM Partners initiated coverage on shares of Cypress Semiconductor in a research note on Thursday, October 4th. They issued a “buy” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $19.86.

Cypress Semiconductor stock opened at $13.22 on Friday. Cypress Semiconductor Co. has a 12-month low of $13.08 and a 12-month high of $18.87. The firm has a market cap of $4.86 billion, a P/E ratio of 14.46, a PEG ratio of 0.82 and a beta of 2.09. The company has a current ratio of 1.37, a quick ratio of 0.94 and a debt-to-equity ratio of 0.48.

Cypress Semiconductor (NASDAQ:CY) last released its quarterly earnings results on Thursday, July 26th. The semiconductor company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.08. Cypress Semiconductor had a net margin of 0.49% and a return on equity of 18.51%. The firm had revenue of $624.00 million for the quarter, compared to the consensus estimate of $618.49 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. On average, equities analysts expect that Cypress Semiconductor Co. will post 1.05 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 18th. Investors of record on Thursday, September 27th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Wednesday, September 26th. Cypress Semiconductor’s dividend payout ratio (DPR) is 73.33%.